Ballard Power Systems, Inc. (NASDAQ:BLDP) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts maintain a “Hold” consensus on Ballard Power Systems, with nine holds, three sells, two buys and one strong buy among 15 firms. The average 12-month price target is $3.50.
• Ballard’s latest quarterly results fell short of expectations, reporting an EPS loss of $0.07 versus the $0.04 expected and revenue of $20.34 million compared with estimates of $25.24 million.
• BLDP shares opened at $2.70, well below their 52-week high of $6.57, while the company continues to show substantial losses, including a negative net margin of 72.78%.

Ballard Power Systems, Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD has been given a consensus rating of "Hold" by the fifteen research firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $3.50.

BLDP has been the topic of several recent analyst reports. Wall Street Zen cut shares of Ballard Power Systems from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Lake Street Capital upgraded shares of Ballard Power Systems from a "hold" rating to a "buy" rating and upped their price objective for the stock from $3.00 to $5.00 in a report on Tuesday, May 5th. KeyCorp restated a "sector weight" rating on shares of Ballard Power Systems in a report on Tuesday, August 4th. Susquehanna dropped their target price on shares of Ballard Power Systems from $3.50 to $3.00 and set a "neutral" rating for the company in a research report on Monday, August 10th. Finally, BMO Capital Markets lifted their target price on shares of Ballard Power Systems from $1.70 to $2.10 and gave the company an "underperform" rating in a research note on Wednesday, May 6th.

Ballard Power Systems Price Performance

Shares of BLDP stock opened at $2.70 on Monday. The firm has a market cap of $814.08 million, a P/E ratio of -10.38 and a beta of 2.29. Ballard Power Systems has a fifty-two week low of $1.81 and a fifty-two week high of $6.57. The business's 50 day moving average price is $3.34 and its 200-day moving average price is $3.23. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.36 and a current ratio of 11.19.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last posted its earnings results on Friday, July 31st. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The business had revenue of $20.34 million for the quarter, compared to analysts' expectations of $25.24 million. Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. On average, equities research analysts anticipate that Ballard Power Systems will post -0.19 earnings per share for the current year.

Institutional Trading of Ballard Power Systems

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. grew its holdings in shares of Ballard Power Systems by 228.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company's stock worth $25,000 after acquiring an additional 6,952 shares during the period. Swiss Life Asset Management Ltd purchased a new position in shares of Ballard Power Systems in the 4th quarter valued at approximately $26,000. Ground Swell Capital LLC purchased a new position in shares of Ballard Power Systems in the 1st quarter valued at approximately $26,000. Intesa Sanpaolo S.p.A. bought a new stake in shares of Ballard Power Systems during the fourth quarter valued at approximately $28,000. Finally, Cetera Investment Advisers bought a new stake in shares of Ballard Power Systems during the first quarter valued at approximately $33,000. 28.02% of the stock is currently owned by hedge funds and other institutional investors.

Ballard Power Systems Company Profile

Ballard Power Systems NASDAQ: BLDP is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.

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